Thursday 7 May 2009 20.04 EDT
First published on Thursday 7 May 2009 20.04 EDT

Lance Armstrong said that he has already been approached by sponsors keen to back his Astana team should the squad fold following the Giro d'Italia, which gets underway in Venice on Saturday. On the eve of his first major tour in more than three years, the seven-time Tour de France winner also said that his fitness was "better than I expected", following the broken collarbone he sustained in a crash in March, though he added that "I don't expect to win."

It emerged on Wednesday that Astana, which is backed by a consortium of Kazakhstan businesses, is up to $2m (£1.3m) in debt and facing further financial problems, which could prompt the International Cycling Union (UCI) to revoke its licence following the Giro.

Armstrong, who is racing for no salary, said that, if the team does collapse, he would attempt to take over as "owner, director and rider", possibly before his return to the Tour de France in July. Yesterday, he confirmed that there has already been "high interest" from potential backers.

"Considering the economy and considering global sports sponsorships, it's a tough climate," said the American. "You're not going to find one in a week and say, 'By the way, we need 10 million bucks, please come on [board]. They don't jump that quick."

In Kazakhstan it has been reported that the team owners are in talks with the country's prime minister to find a solution, though sources said that up to $5m has already been committed to the team this year. Armstrong, though, suggested that the team's employees have gone without pay for up to two months.